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of the world, europe, still very slow, but china a bit of a rebound, and, maria, the u.s. doing okay. again, hewlett-packard better than anticipated. >> all right, david, thank you. stay right there. we're going to bring in david garrity and roger kay of end point technologies associates. good to see everybody. thanks for joining us. want to point out aig numbers are also out, and i want to tell our viewers that there is stock to buy in aig after the close tonight. just spoke with the market-maker there, so we're watching that story as well as this story. hewlett-packard though is the focus right now. david garrity, what's your take on the quarter? >> the earnings multiple for the company, single digits, a five handle. i mean, here's a company. it's great and wonderful that they are doing better in terms of businesses that are losing share in the overall computing market, and it's thighs to see that they are getting some positive margin surprises, but the fact of the matter is hewlett-packard was initially thought to be an innovator and what we see out of corner, fine, we can rearrange the
, a lot of people are forgetting, they have around $137 in cash and equivalents. the stuff not in the u.s. is really difficult for apple to repay tree ought without a big penalty. we are talking in the neighborhood of $40 billion. it seems like from what apple put out in the statement last week, they are planning to do some sort of extra thing beyond their announced dividend. but it is a smaller pile of cash than people talk about. >> let me bring in molly woo had from c-net. do you they they get in terms of how shareholders are feeling a the moment and how do you think he will respond? >> tim cook has been an executive who is very plug need wall street and move of shareholders. i think that he, possibly more than steve jobs would have, is probably sympathetic to the shareholders and will offer a bonus or something to keep them happy. >> is that enough, though, is the issue. >> exactly. >> the expectations are very high, such as complacency. >> i think that expectations are always high for apple. so there is a very good chance that shareholders will be disappointed. apple has always been
and as general allen told me, the world does not and december 2014. there will be a u.s. presence. military, maybe smaller. but there will be if anything a bigger and more important presence and that is the reconstruction. we will be there. the tweet is absolutely correct. we plan to be there beyond 2014. host: what about you, your office? we are temporary agency. we're set up to handle this agency. at some point we go out -- and existence and what is triggered, if the amount of money not spent falls below to leonard $50 million, there is no need for rest, congress said. we go out of existence. and when that happens, the normal function. that function -- is small enough that it will happen. host: when will that happen? guest: i do not know. it could be yours -- years. host: did you talk to general allen? -- i talked to him through a phone and e-mail. he was a great support for our team and we need the military not only for protection but also to identify problems. he identified certain problems. i got to give general allen and his team credit. nobody likes an inspector general. particularly
and spain, to a lesser extent. i would say the declines in the u.s., fairly modest. given that we moved a thousand point in the month of january. >> kenny was here, director of floor with securities. >> we haven't even traded 300 million shares down here today. that's relatively weak. but you made the point. we were up almost 7% year to date. so off a half percent or three quarters percent is not a reason for anyone to panic but a sense the market was exhausted like we been talking about and that in fact maybe it will test the 1475 level for support on the s&p because it was such a tough level to get through on the way up. >> on the way up. >> let's listen to what les had to say because he is longer term bullish and maybe this entry point. take a look. >> this is a crisis for another crisis. we look at again, the market from a cycle of viewpoint, when have you market that started the way this did, consolidated very nicely. now have you exuberant phase, again, i'm still comfortable saying at some point this year, at least 55% possibility. >> all right. 1600 is what he is looking for. is
unknown and officials don't know if it was an accident or murder. >>> of lance armstrong and the u.s. postal service cycling team received tens of millions of dollars in federal funds. now the u.s. government wants it back. the justice department says it will join the lawsuit filed by former teammate floyd landis. that suit alleges armstrong and managers defrauded the government by using performance enhancing substances in violation of sponsorship rules. >>> and now, a new winter storm in the northeast. once again up to 10 inches of snow possible for parts of new england this weekend. boston still has remnants of that big blizzard that hit just two weeks ago, if you recall. and even after the streets were cleared, the city was left with a whole lot of potholes to fill. karen mcginnis back in the weather center, here we go again. >> the third weekend in a row but not like what we saw early part of february, fred, when they got blasted with about 24 inches of snow. this one going to pack a little bit of a punch. the computer models were all over the place. yes, snow on the way not just
from the new york stock exchange. let's see how your friday session is setting up on the u.s. futures. it looks like we'll have a positive session with the s&p looking at 2 at the open, dow looking at 13. in europe, the eu summit continues. but the action really taking its cues from china this morning. we have green arrows across the board in europe. take a look at asia. strong eco data out of china in focus. much more on that in just a moment. the road map begins at the golden arches. not even the cheddar onion burgers could help mcdonald's. they missed estimates in every region. asia was down a whopping 9.5%. >> exports boomed 25%, inflation cooled, but met expectations, capping off a two-week winning streak for stocks. >> a blowout quarter, users increase continued in momentum. >> the storm could be one for the record books. forecast calling for as much as 2 1/2 feet of snow in some parts of the northeast. already more than 3,700 flights have been canceled. we'll get more from the weather channel on the path of nemo. >>> mcdonald's down 1.9 in january. middle east and africa, europ
, thank you. and he'll be taking an inside look at the battle for damascus and what it means for u.s. national security tonight on "world news" and "nightline." >>> meanwhile, back here at home, new details about a potential motive in the newtown, connecticut, school shooting. gunman adam lanza may have, in fact, been competing with another serial killer. "the hartford courant" newspaper reports authorities found news articleses in lan za's bedroom, about the killing spree in norway, carried out by anders brevik, who bombed buildings at a youth camp, killing 77 people. the investigation is still ongoing. any theory now is purely speculative. >>> and new information on what left the carnival cruise ship stranded in the gulf of mexico last week. forcing 4200 passengers and crew to live on the boot for nearly a week without power and plumbing. the coast guard now blames a leak in a pipeline that connects a fuel tank to one of the ship's engines. investigators say oil dripped on a hot surface and caught fire. >>> in business news. a potential megamerger. office max and office depot, are
're seeing red arrows on the board. most notably the euro hitting a one-week low against the u.s. dollar. in asia, china up eighth straight session. nikkei highest level since september of 2008. disney set to open at record highs. strength in media networks. word that it's planning films based on "star wars" characters. >>> zynga, revenues continue to fall and the social gaming company said 2013 would be profitable. >>> company seeing momentum in america's improvement in europe and big margin gains for 2013 for ralph lauren. >>> the post office could be eliminating or cutting back deliveries on saturday. we'll explain. they carry the official announcement at 10:00 a.m. this morning. >>> we start with disney. shares rising pre-market, set to open at all-time highs at fiscal fourth quarter profits beat the markets. growing attendance at the theme parks. real news came during bob iger's interview with our own julia boorstin. >> in fact, we are working on a few stand-alone films. larry kazden and simon ginberg are working on films derived on "star wars" characters that are not part of the ov
, art, certainly we have a lot of deals going on. the biggest month for u.s. deals since june 2008. it's the gdps around the world putting a wrempbl into futures this morning. >> particularly in europe, shares of gdp reports knocked europe for a tailspin here. not too much valentine's day cheer showing up. so far beginning to look like the dow has given up rallying for lent. let's hope that doesn't continue. >> lent is a long time so let's hope not. in terms of the g-20, it's sort of a photo-op and that's it. is it much more important this time around as there's so many statements regarding currency manipulation being bandied about, having an impact on currency market and equity markets. >> you're absolutely correct. it went from g 7 comments to possibly right on the main table. g-20 meeting. the thrust is the end. how do we keep this orderly and prevent an outright currency war from breaking out. we've got a lot of american message fund players going along. half the world appears to be short the end believing this is going on. >> a longtime strategy to a certain extent, worries about
. is the consumer in the same field of flowers and unicorns and daisies that the u.s. equity investor is in? i think that's probably what we're going to see. >> already we're not seeing a lot of alternatives for folks' money other than stocks because of the low rate environment. andrew, how are you investing right now? >> well, we're probably going to go ahead and move in this market. looks like the pullback is more likely 1650 back to these levels. so more than likely now is probably the time to ease into the market. you've got tremendous momentum and breath here. you're fighting the tape, as they say. this is probably the time to deploy. >> meanwhile, rick santelli, the race to the bottom of the currency markets was interrupted today. horror of horrors. japanese officials saying they don't want the currency to go much lower. and the euro moving higher as well today. >> once you put that machine in motion, i don't know if you can stop it. and bill, i find it so telling you have so much more outrage about a maker's mark liquidity injection than the fed's liquidity injections. >> what's your point? >
contraction in the u.s., it's not resolved so more higher gasoline is ahead of us. stuart: and david, hold on, i want to see what happens when the opening bell starts to ring and starting right now. i'm expecting the dow to hit 14,000, we've been away for three days and friday afternoon the dow closed at 13,981. the early indicator suggested we go up, 20, maybe 20 points at the opening bell and that would take us to 14,000 so we're off and running again. stocks at a very high level. i've got a question for you. are you in this market, you, the little guy. we've got an expert on that coming up in just a moment from charles schwab and he'll give us the answer and on the high side in the first seconds. today's merger talk, a number of mergers, officemax, office depot reportedly getting together. and lauren simonetti on the floor of the exchange. looks like they will he' give staples a run for their money. >> it may be higher prices for consumers. let's go straight to where they both trade. as you can see, office depot and officemax surging and opening up 32% to the upside from depot and officema
. some of them are interesting. high volatility u.s. large caps and micro cap stocks. it would seem you're increasing the beta place. when you say u.s. large cap volatile stocks, what do you mean by that? >> well, we believe that there's an evolution in the asset classes that investors are going to be tapping into in the next decade. you know, if you look back over the last 20 years, people spent a lot of time arguing, what was the value stock, what was a growth stock. and a lot of times it was in the eye of the beholder. volatility is a much more objective mesh yasure of what a stock is. you can do very good long term, 80 and 90-year analysis of what this asset class means. and right now, we show high volatility stocks have been beaten down very, very much in the rally, relative to low volatility, sort of bond proxy stocks. that suggests to us that they're one of the best opportunities in the market, as we stabilize, as the fed keeps pushing in liquidity. i think you're going to see a return to those kinds of beaten-down names. >> you know, michael, one of the big talkers of the mornin
. thank you. >> sure. >>> cyber attacks against the u.s. an american firm is linking the chinese government to hacking. i'm talk to a man who hacks computers for a living. >>> controversial advice to kids from top law enforcement. what to do if they're confronted by a gunman. there's a training video here. our panel is going to discuss it. stay close. ns, i can talk to someone who knows exactly how i trade. because i don't trade like everybody. i trade like me. that's why i'm with scottrade. announcer: scottrade- proud to be ranked "best overall client experience." a regular guy with an irregular heartbeat. the usual, bob? not today. [ male announcer ] bob has afib: atrial fibrillation not caused by a heart valve problem, a condition that puts him at greater risk for a stroke. [ gps ] turn left. i don't think so. [ male announcer ] for years, bob took warfarin, and made a monthly trip to the clinic to get his blood tested. but not anymore. bob's doctor recommended a different option: once-a-day xarelto®. xarelto® is the first and only once-a-day prescription blood thinner for p
, back to you. >> thank you very much, simon hobbs. let's see how this is all going to impact the u.s. session here. we have the head of u.s. equity and quantitative strategy with bank of america, merrill lynch. nice to see you. >> nice to see you, too. thank you for having me on. >> we've been able to put europe on the back burner, but right now it might bring back bad memory for investors that this is exactly what derailed us a year ago. >> it's eerily similar. you know, i think, though, that the big surprise for the u.s. equity market is that we might not see a pullback. i feel like everyone's expecting one. and we might not actually see one. for a bunch of reasons. i mean, last year, i think one thing that was a little bit different was that sentiment was not as negative as it was at this point, where we are today. if you look at wall street strategists, equity allocation is still sub 50%. you've still got a lot of strategists with price targets below where the market is today. i feel like a lot of investors have regarded this rally that we've seen so far as, you know, too far, to
those spending cuts from going into effect because gdp wouldn't take a hit. that means growth in the u.s. couldn't take a hit. as far as what else is propelling stocks higher, mergers and acquisitions going on, media, even in the office services area, office depot, office max, possibly talking about a tie-up themselves. that is certainly giving some momentum to stocks and giving investors a little bit of oo mph to buy into the stock. who knows if it will stick. >> alison, thank you. >> sure. >>> thank you for keeping me company here at cnn as i was in for brooke baldwin. i want to take you to "the situation room" with wolf blitzer because he starts right now. and let's take a look at the "closing bell." you heard alison kosik say we're not going to hit the 14,164 today but we there is a lot going on in washington with the sequester and we have to hope that we are going to be seeing these kinds of numbers, wolf. we certainly hope it for a long time. but depending on what -- depending on what washington does, we'll have to see if it sticks. wolf blitzer? >>> thanks very much. happening now
claiming his death proves they were absolutely justified in passing legislation banning u.s. nationals from adopting any more russian children. they did that at the end of last year. partly in response to u.s. legislation, targeting russian human rights abusers. but also because of concerns held for a long time here by russian officials who say they are worried about the way russian orphans are treated in the united states. supporters of the adoption ban claim since the 1990s 19 other russian children have died after being adopted by americans. the russian government says it is very concerned about the welfare of russian orphans and says 60,000 have are been adopted over the last 20 years. the adoption ban is one of the key reasons why relations between the united states and russia are the worst that they have been in a long time. a line of politicians here and officials have responded to the death of this 3-year-old boy by effectively saying, we told you so. phil black, cnn, russia. >>> european scandal over mislabeled meat keeps getting big der. details of the latest recall foods where tr
conference in paris. >> is the u.s. willing to directly aid the fighters on the ground and is that enough to change assad's administration? >> he needs to know that he can't shoot his bayway out of this and so we need to convince him of that, and i think the opposition needs more help in order to be able to do that and we are working together to have a united position with respect to that. >> the secretary hinted the u.s. might start to distribute aid in rebel held parts of syria. secretary kerry expected to talk more about the syria question at an international conference tomorrow in rome. charlie and norah? >> clarissa ward thank you. >>> the supreme court today is hearing arguments over the landmark 1965 law, at issue, whether voting rights are secure enough now to allow the rollback of protections from the civil rights era. john crawford is at the supreme court. jan, this has far-reaching consequences. tell us about what's at issue here? >> reporter: the voting rights act is one of the most arguments now just under way in the supreme court in this really significant
away from those forced spending cuts that will cut across u.s. defense and domestic programs. you might think it's finally time for congress to get serious about doing something to avoid the potential pain out there. but guess what? you would be wrong. our chief congressional correspondent dana bash is up on capitol hill to explain what is going on. go ahead, dana. explain. >> reporter: we can now report that those $85 billion in forced spending cuts will kick in by the end of the day tomorrow. why? because congress is the only place that has the power to stop them and they are gone. lawmakers racing down the capitol steps, bolting out of town for a long weekend. this was before noon, a full day before the hammer comes down on forced budget cuts they voted for. is there a concern that you all are going to leave town while these cuts kick in and you won't even be here? >> well, speaker and the leadership will be here and i'm a quick flight away. i go home every weekend to see my family. >> reporter: you're on your way out? are you on your way home? >> yes, ma'am. >> reporter: so you're n
last year and they will be paying out the vast majority of their u.s. free cash flow this year in the form of dividends to the common shareholders and buy backs. look, i think the preferred stock idea is is a really interesting idea. i haven't seen other companies use it, but this may be interesting for a lot of other companies sitting in a lot of ksh and preferred shareholders value dividend much higher than common shareholders, it kind of makes sense. >> why do you think, tavis, that apple sits on so much cash. it is a derivative of a very strong business but they can't be earning much money on that cash. they sit on it. they are not doing a lot of deals. >> look, the bigger issue is u.s. tax policy. 68% of that cash is sitting overseas and to bring that back and give it back to shareholders, requires them not only to pay a tax but also very likely requires tlem to restate their income tax rates in terms of gap accounting which lowers their earnings. so this is not an apple specific issue. it is across the tech industry broadly. and if somebody can can figure out how to unloc
. ty? >> sue, thank you. worried about the ever expanding u.s. budget. then stick around. when we come back, an exclusive interview with the fix the debt co-chairs. john harwood is sitting down with the two at the conference in san diego. meanwhile, as we head out, take a look at wal-mart shares, since the dow peaks back in october of '07. there you see it. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. [ dog barks ] ♪ ♪ [ male announcer ] something powerful is coming. ♪ see it on february 3rd. ♪ all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. >>> it is on
for the first time. >>> and a massive airline merger this morning. u.s. airways and american airlines will join forces to create the world's largest airline. i will tell you what it means for your frequent flier miles and for your fares. >>> among our guests this morning, two moms who have got young daughters on that carnival cruise ship that's now stranded in the golf. also we'll talk to ariana williams, a former girl friend of christopher dorner. and former l.a. police chief bill bratton will join us. richard simmons is with us and westminster's best in show winner, banana joe, is with us. "starting point" starts right now. >>> welcome, everybody. we start with breaking news this morning. there's been a deadly shooting at the home of the blade runner, track superstar oscar pistorius. his girlfriend, model reeva steenkamp, shot and killed in pistorius' home. police say there is a 26-year-old man in custody and that man has been charged with murder. they have not yet confirmed, though, that that man is pistorius, although we should note pistorius is 26 years old and that he and steenkamp appare
this 12-story building. the source of thousands of cyber attacks against 141 u.s. companies spanning 20 industries. whose building is it? according to a new report confirmed by u.s. intelligence, it's the headquarters of unit 61398. >> i think it was time to let the world know, it's actually not just from china, it's the chinese government sanctioning these attacks. >> reporter: among the targets, america's very infrastructure. >> now our enemies are sabotaging our power grid, our financial institutions, our air traffic control systems. >> reporter: other targets of chinese hackers familiar brand names like coca-cola, facebook, "the new york times," on "wash post" and "wall street journal." and only today, apple. the hackers have user names like ugly gorilla and dota. according to this instructional video from mandiant. >> here we see dota logging into one of his operational e-mail accounts. he's used it for spear phishing and generating additional accounts. >> reporter: what is it? how hackers campaign access into a network by sending deceptive e-mails tricking users into clicking on a
. ♪ stay in the groove with align. >>> the u.s. government is spending about $3.8 trillion this year but if there's no deal by friday night, agencies will have to cut a fraction of that, about $85 billion clarz. so our big question is that, why would that amount have an impact in the overall economy. tom foreman is analyzing that. have you figured it out, tom? >> when you look at the $3.8 trillion, all these different programs out here, if you've cut out this amount down here, 85 billion, how can can that little slice of all this make a difference? one of the reasons it makes a difference, one of the reasons is because washington is not really looking at the whole budget and they haven't for a long, long time because what you have to consider is that all of the entitlement programs are out of the equation and these programs are bigger than all of the other programs. we aren't really cutting a whole budget. we're talking about putting these cuts in part of the budget. if you look at what has happened to entitlements, look at just defense spending. here's defense spending which is way
in the u.s. and stealing information. the this group is working in conjunction with the military and chinese government. not surprisingly, the chinese government says they had nothing to do with this and call these claims "irresponsible." the chinese say they had nothing do with the hackers, the next salvo in an international war? we'll have to see. >> david mackenzie, thank you very much. appreciate it. >>> ahead on "starting point," a colorado university is giving coeds advice on how to protect themselves against attackers, involves vomiting on them, claiming have you soyou have so disease. growing up roar around that, straight ahead. e bankamericard cash rewards credit card. earn 1% cash back everywhere, every time. [ both ] 2% back on groceries. [ all ] 3% on gas. no hoops to jump through. i earn more cash back on the things i buy the most. [ woman ] it's as easy as... one! -two. -[ all ] three! [ male announcer ] the bankamericard cash rewards credit card. apply online or at a bank of america near you. >>> good morning, welcome back to "starting point." i'm christine romans.
, according to the u.s. coast guard they're probably less than 50 miles away from mobile right now. that might sound pretty close, but it's probably going to feel like an eternity before they get here. there was a flurry of activity last night with helicopters delivering new supplies to the ship and some new generators, so that sort of implies that they might have some means to have more electricity on board and everyone to have perhaps more food and more water before they get here. but once they do arrive here, that's when things are going to start moving relatively quickly for the 3100 passengers on board. here the plans have already been made to have buses waiting for them to take them back to their cars in galveston, texas, so they can drive right home tonight if they want to or they can take them to a hotel where you can bet there will be plenty of people anxious to get to that first hot shower they have had in quite some time. you think about this, soledad, this ship was supposed to arrive in galveston, texas, on sunday. they're now 500 miles off course and five days overdue. >> or they
this document to be filed in the u.s. attorney in washington d.c. and it has to do with the allegation over misuse of campaign funds. the investigation also takes in his wife sandy in chicago who served as his campaign manager. >> lynn sweet, thank you very much. much more coming up. also, we'll hear from the president in chicago. i'm brooke baldwin. listen to jim acosta in for wolf in washington. hey, jim. >>> thanks, brooke. happening now, look up in the sky. a fireball and a shocking reminder that planet earth is spinning around in a very unpredictable neighborhood. back on dry land and already heading to court, we have details of the first lawsuit filed by a passenger who says the cruise line's negligence turned their vacation into a nightmare. >>> and the "blade runner" goes to court and cries uncontrollably. wolf blitzer is off today. i'm jim acosta. you're in the situation room. we are starting in chicago where right now president obama's about to take the stage to talk about two of the top priorities from his state of the union speech, jobs and guns. we expect him to connect the nee
's big merger news that included american airlines, u.s. airways and h.j. heinz. the wheels continue to turn. >> really do. we'll talk about deals. one of the big deal-makers on the show today. don't look now, but $5 gas is becoming a reality in one part of the country. we'll talk about whether spiking gasoline prices to be the big threat to the economy right now. >> i knew i should have filled up yesterday. this is going to keep going up. a pair of big earnings coming your way at the top of the hour. dell and herbalife both set to report. we'll have instant analysis of all those numbers right here on the "closing bell." >> before all that, let's check the markets here as we approach this final hour for the day. the dow jones industrial average up 45 points. just shy of the high of the day. about a third of the% higher at 13,426. nasdaq also strong and technology one of the winners. certainly the nasdaq up a half a percent and the s&p 500 looks like this. take a look. similar chart pattern, just shy of the high of the gain with a gain on the standard & poor's of nine points. >> the s
as a community organizer. he would become a state legislator and u.s. senator. the connection is great. he still has a home here. the 15-year-old hadiya pendleton was killed a mile from where his job is. the connection is very real for him. the gun violence rate is one of the highest in the country. the poverty rate in the south side of chicago where he will be speaking today, where he was once a community organizer, one of the highest in the country. we've been here a couple of days, talking to community organizers. they say the need has never been greater. so when the president comes here, politically the main thing is to give his message from the state of the union and put it on the ground where the people are and where the situations require it and, of course, south side of chicago is a place where urban violence is very much a foot. however, there's going to be the looming question, are you just giving your speech or are you going to make good on the promises here where you call home? a lot of people are so happy to see the president but they will be even more happy if these words turn into
at the new york stock exchange. the day after we broke a lot of records for the u.s. markets, we're looking at an update for the dow. the s&p looking to give back just a little bit, along with the nasdaq. as for the picture over in europe, some comments from germans chancellor angela merkel about the euro saying between 130 and 140 for the u.s. dollar is normal. those are the comments being focused on this morning. a mixed bag in terms of europe and take a look at the picture in asia. the nikkei, the one to focus on, closing at a 4 1/2-year high in yesterday's session. >> fresh five-years for the s&p and dow, fresh 12 years for the nasdaq, helped in part by a renewed appetite for deal making. >> cracks in the housing picture this morning, january starts to decline 8 1/2%. toll brother earnings sharply miss earnings. >> could demand for the iphone be cooling? fox con pressuring shares this morning. >>> the rally continuing with the dow and s&p having their best day in two weeks. nasdaq closing at 12-year highs. dow less than 130 points from closing at an all-time high. guys, a lot of discuss
did they do that? we can't look at that from the perspective of a u.s. lawyer. they did it to specifically avoid him having to testify, be subject to cross examination, which all of which would have been available for the trial -- >> so he doesn't have to answer any questions? >> this is critical because if they didn't offer anything then they may not be able to undermine the premeditated nature of the allegation. >> we'll obviously continue to talk about this case all morning and you're going to stick around with us, which we appreciate. >>> our other top story this morning, 30 million people across the 18 states are now in the path of a powerful winter storm moving into the plains. the system is huge. it's literally an area about the size of mexico stretching from the dakotas all the way into texas. while it dumps snow in the north it's also going to pour heavy rain over parts of the south and maybe even tornados along the gulf coast. parts of kansas are looking at a foot and a half of snow. several flights have already been cancelled out of kansas city international a
for the church. we'll be talking with monsignor rick hilgartner of the u.s. conference of catholic bishops. senior simone campbell will join us and father edward beck is our guest. and time is running out. two proposals meant to avoid drastic spending cuts but they're both expected to fail, so can we avoid tomorrow's deadline or is it a lost cause. >>> and did the white house threaten journalist bob woodward over his reporting on those spending cuts? >> it said very clearly you will regret doing this. >> the growing controversy on how the obama administration is responding this morning. >> it's thursday, february 28th. and "starting point" begins right now. >>> welcome, everybody. our starting point this morning, the final hours of the sitting pope, the leader of the world's 1.2 billion catholics will officially retire in seven hours. right now we're awaiting a news conference from the vatican. the spokesman will hold that news conference and we'll bring that to you when it happens. earlier this morning pope benedict xvi met with more than 100 cardinals. they'll be the ones who will be cho
guy, but his tempo is still the way it was when he won those u.s. opens. i make him -- with my tempo, i say, just turn around, he'll quit the game if he watches me too closely. anyway, i know we want to get to our newsmaker this morning. carol bartz will be here, perhaps best known for speaking her mind. and this is true. in some colorful tones once in a while. so we'll look forward to talking with her about everything from yahoo! to apple to some of the big issues coming out of washington. and we're going to hear from at&t's ceo randall stephenson. and telecom industry veteran dave doorman, now the nonexecutive chairman of cvs caremark. plus, joining us live this hour, shawn carolyn. he was one of the first investor s for siri. i got up at 2:40 because i thought i had to be here at 4:00. >> because you can't do math and you didn't do the time change correctly. >> exactly. i did shower a little last night after the round. >> thank goodness. >> i made et here. >> and running through the rain to get over here without an umbrella. by the time i left, it was like, i'm not going back. >>
is expected over much of the u.s. a massive winter storm is expanding fast from california to the midwest. we're talking heavy snow, ice, freezing rain. all of that. the huge storm system may wal lop the southeast with violent thunderstorms, floods, hail, and possible tornadoes. and then on to california heavy snow already has left hundreds of drivers stranded on mountain highways. casey wian joins us. so, casey, isc california equipped to deal with this kind of snow? >> reporter: well, we've had most of the snow overnight, frederica. you can see behind me there's just pretty much a light dusting on those hills there, but it was a much different story overnight. behind me you can see interstate 15 and that is one of the main roads that connects los angeles. that highway was closed on and off because of heavy snow conditions. one of our affiliates showing one of the accidents that happened on the highway last night, one of the reasons why the california highway patrol had to shut down this interstate overnight. so far no fatalities. no serious injuries reported, but there were a lot of inconve
for q 1. also disclosed that u.s. sales picked up last when the tax refund checks started flowing. i think there is light at the end of the tunnel from that comment, particularly when you think about the other tax hurdles that customers are facial and higher gas price. >> what is puzzling, i read the line about the pickup and activity because of the tax refund checks, yes, seeing that pickup in activity in the past week or so but yet they are sticking to the guidance for the current quarter, which is still below wall street consensus estimates. then you add to -- add to that the fact that the past ten ten quarters, nine out of the ten quarters, inventories outpaced sales then a streak of declining flat same store sales numbers and you think back to the walmart when the stock did nothing for ten years r we at that point now, matt? >> i think that's great point about the tax refund activity you why don't we pick up that the rest of the quarter and i think the response to that would be, look, when people were getting those checks in january, they would go out and buy a new tv for the su
disabled and under the u.s. constitution, they say he cannot be executed. >>> a body found in the rooftop water tank of a downtown l.a. hotel has been identified this morning. 21-year-old alyssa lamm was found after people living in the low tell complained their water pressure was low. police are not sure if she died accidently or if foul play was involved there. >>> so later this morning, former illinois congressman jesse jackson jr. will be in a washington, d.c. courtroom where he's expected to plead guilty to misusing campaign funds. prosecutors say he took more than $750,000 from his campaign coffers and spent it on personal items like furniture, clothing, memorabilia and this, a $43,000 rolex watch. jackson's wife, former whichchi alder man sandra jackson, will make her own appearance to plead guilty to filing false tax returns. >>> apple was the target of a hack attack. a small number of mac computer were infected. apple says no internal data was stolen. the hackers appear to be the same ones that breached facebook's computers last month. >>> so while you were sleeping, china's mili
municipality, municipal bankruptcy in u.s. history. back to the idea of the federal government bailing out detroit. such a thing is not unprecedented. mark binelli from "rolling stone" points out "when new york teetered on the brink of bankruptcy in the 1970s it was famously told in the headline of the daily news to "drop dead" but president gerald r. ford changed his mind and dumped out $2.3 billion in 1975 in federal loans. that was a lot of money. mark binelli is author of "detroit city: the place to be, the afterlife of an american metropol metropolis" and in detroit mark wolf. tom i want to start with you, the reason we're doing the story is because the state of michigan says detroit is on the verge of collapse. help us understand what's happening now. >> what's happened over the years is the city's lost two-thirds of its population and a lot of it's text based and it's put off the day of reckoning by continuing to borrow to pay obligations that it's promised over the years and finally the day of roeckoning hs come, liabilities up to 14 billion. there's no credible plan for how to pay
's no suggestion yet horse meat labelled as beef has reached the u.s. but the struggle for everyone is to be sure the meat you're buying is what the label says it i is. >> that butcher is the type that knows everyone's name and customers trust him a local store. the problem is that kind of service can cost you more and when you're trying to feed a family, every dollar counts. >> kiir simmons, thanks. >>> a special moment in american history is making major waves along san diego's waterfront. alongside the giant kiss statute to explain, good morning. >> reporter: good morning, savannah. san diego a big military community. there are many people who think this is incredibly patriotic and others who just plain think it's an eyesore. people have actually resigned over this. a 25 foot 14,000 pound piece of art that is stirring up a plus-size controversy. it is one of history's most iconic images, the photograph taken at the end of world war ii has become larger than life. not everyone likes how literally one artist took that. >> the ultimate in bad taste. >> reporter: stewart johnson's 25 foot statute
influence on what happens here in the u.s. markets. >> there's been that linkage trade that people love to do. the euro gets -- the euro gets weak, but sell everything. i think that the problem, i'm being a little hyperbolic, but let's just face it, that doesn't work as well as when our country, the domestic consumer is not doing well. >> there is the opening bell. and the s&p at the top of your screen. at big board, wall street rocks, nonprofit supporting war heroes and first responders, over at the nasdaq, a provider of cloud and marketing software. we've been over target -- the retail action continues. i wonder if you step in front of the names that are going to be reporting after the beg tonight. >> you know, jcpenney, i think it's an aberration. macy's and sachs, these companies are still not growing. they keep talking about their online business being incredibly strong. they had sandy. people were shut in. did a lot of business online. the overall tone of all these, with the exception of auto zone, who says the last two weeks of the quarter were hurt by delayed federal tax refunds
for free. i can even drop off free boxes. i wear a lot of hats. well, technically i wear one. the u.s. postal service®, no business too small. mommy's having a french fry. yes she is, yes she is. [ bop ] [ male announcer ] could've had a v8. 100% vegetable juice, with three of your daily vegetable servings in every little bottle. as your life and career change, fidelity is there for your personal economy, helping you readjust your retirement plan along the way. rethink how you're invested. and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices to help you fine-tune your personal economy. call today and we'll make it easy to move that old 401(k) to a fidelity no-fee ira. >>gretchen: the government is making a record number of requests now for the private information of you from google. that's according to data released by the search engine giant. what is more startling is half of these requests is made without warrants. is it constitutional? who better to ask than judge andrew napolitano. good morning to you, judge. lay
the plugged-in journalists about that, and he said perhaps in some various different dioceses, but u.s. quite a well known fact that there is a large proportion and this is something that, you know, the world's 1.2 billion catholics look on for the future wonder how the church will be reformed, if at all. there is this split within the catholic church amongst very traditional and conservatives on the one hand who want to continue the ratzinger line, if you like and among the more liberal who want the more modern church that takes into account issues of homosexuality and issues like should priests be allowed to marry. as ironically, cardinal o'brien suggested before he resigned. >> christianne, thanks. appreciate it. >>> another big story. on friday, $85 billion in forced budget cuts set to take effect. hundreds of thousands of jobs hang in the balance. is there still a chance for a grand bargain. we'll talk to tom price, vice you chair of the house budget committee. you're watching "starting point," back after this short break. with stayfree ultra thins. flexible layers move with your body wh
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